I had someone in mind, but she's not returning calls, which I question whether or not she's up to the task if there's an emergency at 3am... 

Jean-francois Ndomb what kind of REI activity are you looking to perform in this entity?

Scott Carson has tons of experience regarding buying non-performing notes prior to becoming foreclosures. 

It's all about the guarantor on the lease, experience in that chosen industry, a track record of success, liquidity and net worth of the guarantor, and how easily attachable the assets are if something goes wrong.For instance I would never front money for tenant improvements on a business that is not a proven performer.

This will help you save money down the line because you can remove bad addresses from your mailing list.Don't be afraid to do some of the monotonous tasks yourself initially..

Past performance is no guarantee of future performance, nor a good indicator of what the property is worth.

I've missed out on too many opportunities because I'm stuck in a meeting or on a task that had no relevance to my job what so ever.  

The option can {many would say, should} contain the future Agreement of Purchase and Sale (APS), with all the terms and conditions of the future sale, laid out, as a Schedule to the Option agreement/contract.In exchange for the right to purchase the property at the {strike} price established by the option contract, an option fee is paid by the purchaser of the option to the writer/provider of the option.I would keep the two agreements separate (as if they are with two different people) and have no performance ties between them (i.e. no rent credits, no financing of the down payment, etc).  

At a minimum the listing agent is performing unethically by putting this on the MLS.

Last year I started my own investment company with the goal of buying residential and commercial real estate through non-performing notes to build a portfolio of short and long term investments.